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the tough rhetoric when we come back. >>> and yet another big story brewing for tomorrow. john boehner, he could be facing a real challenge for his job speaker of the house. ace acosta is all over this story. "the kudlow report" begins right now. >>> back to the rally on the streets today. that is the total sizzle story. check out these numbers. in case you missed it, dow added 308 points. nasdaq up 93. s&p 500 surging 36. cnbc's kelly evans joins us with all the details. good evening, kelly. >> larry, good evening, from down here at the stock exchange where you practically would expect streamers and champagne. the kind of day we had to put in in context, the likes of bill gross saying he sees stocks up 5% for the year, we did 60% of that in the first trading day. a lot of people are pointing to this that there could be many better things to come than just 5% in stocks. we saw the best start to the year, at least in percentage terms for the major indexes since 2009. the russell 2,000, by the way, doesn't usually get the headlines but it hit a record high. the global dow is at a 52-week hig
, january 2nd. and speaker john boehner can't please anyone. ♪ >> happy new year, everybody. >> aloha, mr. president. >> the fiscal cliff vote wasn't the only drama in the house of representatives. >> the house stands adjourned until 10:00 a.m. tomorrow for morning hour debate. >> mr. speaker. >> we will promise that this vote was coming up. >> it's the most disgraceful action i've seen in this house in the 20 years i've been here. >> nine weeks after sandy, not one penny has been appropriated. >> we turned our back on them. >> the only thing our republican colleagues did this week is serve up false hope to the people devastated by the storm. >> they have no problem finding new york when it comes to raising money. >> the relief will come early next year but will come at the $27 billion level. >> anyone from new york or new jersey who contributes one penny to congressional republicans after this should have their head examined. ♪ >>> a very happy new year to you and your family. 2013 begins as washington barely avoids crashing off the fiscal cliff. in a rare late night vote, they managed
john boehner has had permanent damage done to him by the failure to pass plan b, the way he was ultimately kind of on the sidelines of the negotiations. winners, two, joe biden and mitch mcconnell, proving as they did with the debt ceiling and in 2010 with the bush tax cuts, they know how to get things done. >> luke, let's talk first about the breakdown of the vote. in the house vote last night, only 85 republicans voted for this deal. the speaker, as you pointed out last night, showed some guts in actually voting for it. >> speakers ordinarily don't necessarily vote. sometimes they vote on big bills, but especially with this big vote where he knew cantor and mccarthy were going to vote against it. he made a decision he should be on the yes side of this, for whatever reason, for conversations i've had, look, he wanted to be out in front to tell his republican colleagues this is the best deal they could get in this situation and wanted to put the tax issue to bed finally and felt his support was much needed to be shown, especially after what mitch mcconnell did in the senate
speaker john boehner after he postponed a vote providing $60 billion in relief. speaker boehner's surprise move came after the house approved the fiscal cliff deal. member members hit hard are especially furious. >> we cannot believe that this knife in the back was delivered to our region. >> emergency and disaster means emergency and disaster. >> this is the most disgraceful action i have seen in this house. >> we have been devastated. i hope the speaker will bring this to the floor as quickly as possible. >> victims of sandy, many still homeless are hoping to recover and more outraged. >> it's a shame and a tragedy because they put politics before people. >> we are one community out of many. there a lot of people that are looking for aid that are displaced like myself and that would help us mentally and we are disappointed they couldn't come to a conclusion. >> just a few hours ago, president obama said in part the senate passed this request with bipartisan support, but the house of representatives refused to act. pass it without delay for our fellow americans. right now we are waiting a
. he doesn't get the stimulus emed toe originally wa bargaine. support the plan b of senator boehner. tax rates increase for those over a million dollars. you are a guy that is well known as a conservative. in principle isn't that something you think hurts the economy? >> no question what the president wants to do is bad for the economy, sean. what concerns me is we are now three days away from a really bad law taking effect which is increasing tax rates on everybody, huge increases on capital gains, massive increase on dividends. this is destructive. i see my mission in part to try to absolutely minimize the damage. unfortunately, i don't have the ability to repeal that law and the democrats control two out of the three parts of the elect ared government. i will fight as hard as i can to minimize this damage. but i got to be honest with you, i mean we got a pretty tough hand to deal with here. and we can't just change that law by ourselves. >> sean: it seems to me senator johnson three things that maybe the president hasn't thought of. number one if the president goes over the fisca
scratching your head over why speaker boehner asked the caucus to vote for raising taxes and promising them that the senate wouldn't bother signing the bill anyway? left you wondering why anyone signs a dock tenant goes against their fiber, document to be used against them with the constituents? about the darn thing was d.o.a. in the senate i? way. the republicans are losing the debate on the fiscal cliff. this is obama's economy. let the president and the democrats own it and own the national debt. own the defense cut. instead, boehner and the gang allow the president to star in his own superhero film. he will cut the hawaiian vacation short and come back to save us mere mortal from the fiscal cliff. winning the optics war and winning it big. juan, how did you get the ball back from the republicans? they had it. this was obama's economy, his face calf cliff. now boehner fails on the vote and next thing you know, the ball is in your court. >> juan: i think you are right. i think boehner at the moment looking weaker. he is out of this altogether at the moment. his troops abandoned him. he is
trading day of the year after the fiscal cliff compromise. john boehner house speaker tonight amid a new backlash this one over a delay in aid for super storm sandy. >> with no explanation, the rug is pulled out from all of us. this a disaster on top of a disaster. >> republicans in congress brought this house to a new low last night. >> the fact is the speaker had no choice. >> tonight, developments after a storm of anger. finally, a fiscal cliff deal. >> i think it's good that we have reached some sort of compromise, although it's kind of lame that it took so long. >> i'm almost wondering why do we even have a congress. >> this fight isn't finished. tonight, the looming battle over spending cuts and raising the nation's credit limits. plus, an oil drilling rig crunches into an island during a storm in alaska. and salvage teams now working to prevent an environmental disaster. but we begin tonight with word of a plan to calm some anger in congress. i'm jon scott in for shepard smith. republican lawmakers are now promising a vote on aid for victims of super storm sandy by january 15th. t
of the new year? if so, can speaker boehner come up with the votes to pass it? if not, what move might the speaker make knowing that time is running out? good morning. i'm mara schiavocampo on this first day of 2013. we've got a deal in the senate and now it's to the house. the republican conference will meet at 1:00 p.m. to strategize their way forward. the democrats in the house will meet at noon to figure out their move. nbc's luke russert joins us now live from capitol hill. he's following it all. luke, we understand that you've confirmed that a very special guest will be present when the democrats meet, when the house democrats meet. who is it going to be? >> that's right. for the first democratic caucus meeting of 2013 they'll hear from none other than vice president joe biden who will come here to capitol hill to brief them about the deal similar to what he did last night for his senate democratic faithful. he was really influential in helping get a lot of democrats to vote for the bill. it is expected he'll do the same thing today when he talks to his house democratic friends.
sense. so the bill passed, 257 for, 85 republicans, 172 democrats. speaker john boehner was one of those yes votes and he released this statement: now the focus turns to spending. the american people reelected a republican majority in the house and we will use it in 2013 to hold the president accountable for the balanced approach he promised, meaning significant spend being cut and reforms to the entitlement programs that are driving our country deeper and deeper into debt. on wall street, the dow up well over 200 points. could be a record rally for the first day of the year. let me bring in our guests. good morning and happy new year. >> happy new year, chris. >> let's take a look at what they actually agreed to. taxes are going to go up on households over $450,000. they delay the sequester. of course those are the harsh cuts for a couple of months. it extends unemployment benefits, it includes the medicare doc fix. any winners, though, really do you think, lynn? >> i think winner is all of us who live with a paycheck because we -- most people who don't make $400,000 will not have thei
cuts to expire for everyone except those making under $250,000 a year. john boehner plan "b" making $1 million. this looked like president obama coming back with the same deal at 250. they are miles apart. >> kimberly: you were able to speak to people on the hill. what was your reaction? >> andrea: the president spread the stories that he will come to the table with a deal. swan dive off the fiscal cliff, hold your nose. we're going off. president obama wants to us go off hecht will come back with a largeer plan. the obama tax cut. then he will be able to reintate across-the-board sequestration cuts. 8.2% across the board. cut defense and health. they will be able to reintate a lot of programs and give his caucus the opportunity to say look, i am voting for something. i am voting to restore tax cuts for the middle class. voting to restore great thin things. republicans are in a tough position. no one will say vote to restore the tax cut for rich. this is his game plan from day one. >> eric: what is the a terptive? $250,000 and above? we see obama not oftenning cuts at all. looking for
boehner kept his word on an up or down vote. we he just had new video of the speaker walking into the chamber, walking towards the chamber and there you see him getting ready to cast his vote on the rule. let's listen. do we have audio? it was the silent movie version of john boehner walking to the house chamber. but there was a lot of back and forth today among republicans and definitely within the media when the house majority leader eric cantor came up and said i do not support this bill. mike emanuel back at his post on capitol hill. there was speculation, was this a move by cantor to create some friction? there will be a vote on speakership thursday when the new congress goes in, the 113th congress, noon on thursday. i guess his people are saying that that is not the case at all. >>> well, that's right. they definitely were trying to walk us away from thinking that there s some soap opera going on here in the republican leadership in the house. but it has been a bruising fight in recent weeks for speaker john boehner. remember, he was negotiating with president obama and
reid and john boehner exchange harsh words. the fiscal cliff in just five days and still no deal. the winter storm that slammed the south is now stranding thousands of travelers in the northeast and beyond. that is coming up. >>> and the russian president vladimir putin says he will sign a bill banning americans from adopting russian children. that's all ahead unless breaking news changes everything on "studio b." i'm trace gallagher in for shepard smith. first from fox at 3:00, back to work in washington, d.c. with less than five days to go before falls right off the fiscal cliff. the senate back in session today and it's the first time the senate or house has met for business between christmas and new year's in more than four decades. president obama cut his hawaii trip short arriving in washington early today. for now, the house of representatives is not in session but we've learned those lawmakers are set to return this weekend. today the senate majority leader, harry reid, says we've just about run out of time. >> if we go over the cliff, and that's where we're headed, mr. p
democrats on the idea. but eventually having to take place and then of course john boehner would have to sell house republicans on the fact that there may not be extension of cuts and they are going to be tax increases. >> exactly. and if you think of the alternative here, if liberal democrats don't like where the threshold is, they sit on their hands and get what they want and more and more. and you have a tax increase basically up and down the income spectrum. on the other the other side of the house republicans were saying, if we don't get enough spending cuts, and just let the sequester head. it is set to hit over the next decade beginning in just a few hours from now. get your spending cuts by doing nothing. your tax increases by doing nothing. so there's a little bit of something for everyone here. gerri: as we start to wrap up, did the republicans in giving to the tax increases, did they give enough? or are the democrats who didn't want increases on anybody, they one of the line at 250,000. do they pose a real threat to the steel? >> i think that you have a protection of americ
, republicans caved in, and scheduled a vote, john boehner did on that senate bill that passed 89-8 the senate passed it on new year's day. the house caved in -- actually -- yeah, it was early, early in the morning on new year's day late last night at about 11:00 the house caved in passed a vote, and passed the senate version, and president obama says he will sign it. we'll get into all of that and of course take your calls at 866-55-press. good to be with you here today. we're coming to you live on current tv, on your local progressive talk radio station and live on sirris tv for this hour only. peter ogburn, and dan henning here. >> we have been working hard. me and phone man phil have been holding down the fort. >> and our videographer siprion bolling who had a couple of days off as well. and we're all back. happy team. happy new year's eve. we celebrated with the millions of people in time square. the whole countdown. [ cheers ] >> that's not as boisterous as i'm used to hearing. >> stephanie: no. no. [ auld lang syne playing ] >> bill: maybe it is harder for
. so any vote in the house will be a vote for tax cuts, not for tax hikes. that helps. john boehner needs to take this deal struck in the senate that presumably has some buy in from him if not from his rank and file, because mitch mcconnell did not negotiate this is a vacuum and this is a pretty overwe will being vote. he will take this to his conference today and see where they are at. the expectation is there are two directions this could go. either a vote on the bill or house republicans propose changes so they can amend the bill more to their liking and send it back to the senate. but i think this is expected to move along here. >> there could be amendments, one past, they could vote on amendments, could fail, and then vote on the full measure. isn't that true also? >> yeah, that is true, and the other thing is once anything goes to the floor, it's not just up to republicans, it will -- and the think the expectation all along, whatever ultimately passes the house as we saw in the senate will require democrats and republicans. >> talking to phil gingery, seemed to be leaning no o
on new year's eve still addicted to spending money. >> last friday speaker boehner told his senate colleagues to see if they could find a by by bipartisan deal with time running out. house lawmakers were left working on unrelated issues and feeling like this process is broken. >> the american people are looking at congress with disdain and rightfully so. with the deadline on the fiscal cliff only hours away, we have failed to reach a reasonable compromise to move the economy forward and ward off painful tax hikes on the middle class. >> senate republicans are hopeful there will be a vote tonight. first, they would like an official score from the congressional budget office. so plenty of activity ahead here on the hill tonight. and if there is a vote and if it were to pass, then the house would pick it up tomorrow, bret. >> bret: just to be clear, mike. tonight, there is still a possibility, in the senate, because of the way it works, that you would have to get 60 votes to get the thing to the floor, it's not really clear that they have all those votes yet. >> that's right. we have
have to get onto the house floor. why would speaker boehner put it on the house floor? that's not in his interest. no republicans want that. so it's never going to happen politically. so when he calls for it to happen, he's simply telling the american public look -- these republicans are obstructing an idea. it gives him the potential to eventually make the argument that republicans obstruct an idea that he thinks could win and republicans will say well that's ridiculous because we object to it on principle and that's why we're objecting to it procedurally. does that make sense? >> jessica, stay there. thanks for your explanation. i want to bring in the rest of our panel. ken rogoff, harvard university, former chief economist at the international monetary fund, annie lowry an economic policy reporter for "the new york times." steven moore, editorial writer for "the wall street journal." ken, you tear financial crisis guru here. forget the politics. just give us the math. if washington fails to avert the cliff, the worst-case scenario will be the combination of tax hikes and
." from washington, i'm krystal ball. reid calls boehner a dictator. ah, the holiday spirit. it is alive and well here. >>> i'm steve kornacki in new york. doesn't matter where you are. we are going to slide down the slope if a deal isn't reached. some faster than others. today, what you don't hear in all of this. straight talk when it comes to your wallet. >>> i'm toure. a big day today. anti-fragile. chaos can be good. oh, we'll make them mad today. >> maybe a little too much chaos for us who's still feeling under the weather, s.e. but we have a whole hour of "the cycle" starting right now. >>> it's basketball thursday here on "the cycle" and we have a classic for you as we relate dr. nasmith to the fiscal whatever here in washington. we take you to washington for last night's cavaliers-wizards game, a classic between the boehner-led cavs at 6-23 against the harry reid wizards at 3-22. pay attention, kornacki. cleveland won. the final was 87-84. this even though cleveland's best player irving missed 9 out of 10 shots in the second half and missed 4 out of 6 free-throws with no one guar
leader harry reid called speaker boehner, that speaker boehner was running dictate toreship in the house. speaker boehner to his face to harry reid, go f yourself and used three other letters. harry reid said back to boehner. what are you talking about. boehner repeated verbatim, go f yourself. this is indication of the poison atmosphere up here. when the sequestration runs out next few months and congress must vote to increase the debt ceiling. it appears speaker boehner is fwirding for a fight on both fronts in a statement that he issued last night. he said in part, quote, now the focus turns to spending. the american people reelected a republican majority in the house and we will use it in 2013 to hold the president accountable for the quote, balanced approach he promised. meaning significant spending cuts and reforms to entitlement programs that are driving our country deeper and deeper into debt. the president last night indicate he is open to come promy to spending cuts but drew a line when it comes to the debt ceiling. here's the president. >> now, one last point i want to make. w
is the president has been trying to govern and he spent hours and hours with speaker boehner trying to work on the so-called grand bargain, and the $4 trillion debt deal and the question on the spending cuts that would have not only tax increases but spending cuts, changes to medicare and medicaid, and potentially social security as well, and the white house says the republicans on the hill complaining of this, now, but the president was willing to do a deal like that and it was republicans like speaker boehner who walked away. >> thank you, ed. the first senate vote is expected in a couple of hours, but if it gets through the senate, we really don't know if this has any chance as passing in the house of representatives and, chad, over to you. how will the evening play out? >> well, i want do be very clear there is no plan at this point for a vote in the senate. they want to bring all their members together at some point and talk about this but they have to get over the issue of the sequester. republicans want to have some sort of spending cut. mcconnell, the minority leader in the senate t
mitch mcconnell, house speaker john boehner and house democratic leader nancy pelosi met at the white house yesterday afternoon with the president and vice president. here's where things stand right now. the senate leaders are meeting aiming to avoid tax hikes. and they may vote on a deal sunday or perhaps on monday. jessica yellin is our chief white house correspondent. lisa day jar dayne is on capitol hill. the president used his bully pulpit to reinforce the idea that senators need to get busy. so let's listen. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable, why everything always has to wait till the last minute. we're now at the last minute. and the american people are not going to have any patience for a politically self-inflicted wound to our economy. not right now. >> so jessica, you were in the room for the president's remarks. on a scale of 1 to 10, let's measure the anger perhaps that
war in a weekend. >> dave: he can get it done but there is still john boehner and the house republicans. i'm not modestly optimistic. anything through the house at this point. >> juliet: like lindsey gram said two days ago when you call a meeting publicly in washington it usually turns out to be the dog and pony show or theater basically. honestly calling at this late hour. they met for an hour. what could really go down in that type of meeting? things can go down but really, it's just at the edge. they waited so long. they all went on their vacations. >> clayton: here are some things on the table to answer those questions perhaps. generalities. we don't know what's been tabled. democrats still strong about this. they say they were, yeah, here is -- take a look at this. keeping tax cuts for those making $250,000 a year or less. we know that's there. that may shift because we are hearing from republicans they may be willing to go as high as $500,000 a year. of the extended. >> dave: that's my guess. >> extending unemployment tax benefits for 2 million folks still unemployed.
hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. >> nbc's capitol hill correspondent kelly o'donnell is live on capitol hill. kelly o., i'm looking at the clock, we are now 14 hours and 58 minutes from going over the fiscal cliff. let's outline -- >> reporter: but who's counting, right, chris? >> yeah, who's counting? let's go over for people, what remains unresolved? it seems like two weeks ago they were pretty well set on the basic parameters of this thing, so let's talk about what's left to deal on? >> reporter: well, there are some significant differences, but there has been progress. i've been talking to sources who say that the vice president and mitch mcconnell stayed on the phone exchanging calls until around midnight last night and that staffers who are key to this process continue talking after that. as you know, there are very few people in the room, so to speak, who really have their fingerprints on whatever deal may ev
hear is the senate leaders are there. speaker boehner and minority leader nancy pelosi have yet to arrive, but now we're showing you live pictures. maybe somebody is going to get out of that car, and we'll see if any of the other leaders will be heading to the white house. this is speaker boehner right now heading into the white house. we'll keep you updated as this hour progresses here. >> indeed, meantime, more red arrows here on wall street as investors are awaiting for any signs of progress from the white house meeting which is about to get under way. right now we're sitting smack on 13,000. we've clawed back from being below that earlier on today. the nasdaq has also moved to the downside by half a percent as we speak. the s&p 500, as we speak, folks, is now down for the fifth straight day. i think it's down about 1.3% over the course of this week. so far let's see what happens over the last crucial hour of this trading day. >> so the clock is ticking. all eyes are on the white house. we've got i'm an javers there in washington as we wait for the white puff of smoke to come
clear. in order for that to happen john boehner basically has to agree that he's going to get a deal out of house with majority democrat votes, and i don't see why he does that before january 3rd. >> you're assuming the president has all the leverage, and i think the president would have a horrible legacy starting out with such turmoil, so i disagree. i think there's movement on the white house side on entitlements. >> rick, you do have to accept the fact that john boehner -- goes for the deal with democratic votes. >> he's about as acrimonious and able to get a deal done as sir harry reid. >> jared -- >> bottom lines, look at the vix, at 20, barely into anything. the market is clearly saying it doesn't care. hey, listen. i run my clients' money looking at the vix with my left eye, but 20, give me a break. you've got to thrill me above 30, above 35 before any of this has anything other than very interesting. >> if we get a deal, say sunday night we get a deal, right, do the markets rally, or does it depend on what the deal consists of? >> secretly, they are going to sell off on the news.
house speaker are john boehner deferred to senate colleagues and told them house leaders would consider, accept or amend their plan. what s not expected to be included in any deal is increasing the debt limit, something democrats have wanted and republicans have resisted. >> we he haded a long meeting in the white house and it was constructive. we hope that it will bear fruit. but that is what we hoped a lot. i think that the next 24 hours will be very instructive as to what we are able to accomplish. >> if it doesn't work president obama wants lawmakers to vote on what would essentially be plan c. here is what it would include. focusing on three key area. keeping tax cuts for those making $250,000 a year or less. extending unemployment benefits and it would delay dramatic spending cuts until later next year. the top senate republican recognizes this is a critical time. >> we are engaged in discussions the majority leader and myself and the white house in the hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority lea
another controversy that has come out of this, and this is because house speaker john boehner did not bring forward this vote on hurricane sandy disaster aid for new jersey and new york. it's got a lot of people who are scratching their heads and are angry this did not happen. i want you to hear what one of the fellow republicans said against boehner. >> when katrina hit, ten days later, $60 billion. $100 billion altogether. now we have to hear from people in florida, louisiana, and texas and alabama and, yes, some people from california and the midwest, when they have a disaster, and we were there for them. the rules change for us, and it is now not an emergency and the federal government doesn't have a role in this? absurd, absolutely absurd! we demand nothing less than we have given the rest of the country, an emergency disaster means emergency and disaster. >> nobody wants a special favor. nobody is looking for a gift or anything else. when your people are literally freezing in the winter and they're without food, without shelter and without clothing and my own party refuses i
boehner saying i've offered you 800 billion in additional revenue. what do i get in return? and the president said nothing. you also counted he won the election. i have got news, whether he won the election or not,let stats about the budget are neutral and nonpartisan and mr. boehner's republicans won an election too. he was elected president, not prime minister. he can't dictate to the house the way he would in england. >> as we look forward here, i heard you mention the debt commission and that's come up a couple times, that we've been down this road before with congress kind of bringing us to the brink but they always do a back deal. that has a longer lasting effect on the economy because every time we go through this, the markets react. people pull back. talk to me a little bit about what's forecasted for tuesday? we're get to hit the debt ceiling. >> a perfect storm. >> yes, but maybe it's one we need to endure so we can straighten our country out. if we go along with the president we have to reckon with the fact entitlement spending, about $650 billion or so, between
's interesting that john boehner and paul ryan voted in favor yesterday, as well. interesting dynamic there. tahman bradley in washington. thank you, tahman. >>> and new york lawmakers are furious this morning after the house ditched a vote on billions of dollars of aide for victims of hurricane sandy. house gop leaders decided to wait for the new session of congress before taking the vote. new york republican peter king called it absolutely inexcusable. and democrat eliot engle says speaker john boehner should hang his head in shame. >>> secretary of state hillary clinton, entering a fourth day in a new york city hospital where she is being treated for a blood clot. chelsea clinton has been at her mother's bedside. and tweeted, thank you for sending good thoughts to my mom's way. doctors have not given a date when clinton can leave the hospital or how soon she'll be able to resume her usual, hectic pace. >>> and students from sandy hook elementary get ready to head back to class tomorrow for the first time since the shooting nearly three weeks ago. an open house scheduled today and therapy
side under the leadership of speaker john boehner. i've talked to a couple of republicans this morning who are fairly optimistic that whatever comes out of the senate, whatever that deal is, it will pass the house this afternoon. although hard-core republican anti-tax folks are not going to vote for it. it still would likely have enough votes to pass. that's at least the mood of some folks i'm talking to today. guys, one of the big questions that's unresolved here was raised on a conference call with ceos arranged by the white house on friday night, on that white house conference call with ceos. one of the ceos asked tim geithner, i'm told by a participant on the call, whether a small deal would be enough to are prevent ratings agencies to downgrade u.s. debt. i'm told by this person on the call that the administration's response to that, they think a small deal would in fact be enough, but they wouldn't speak for the ratings agency. still a big unknown hanging out there, guys. >> and we know about some of the tough conversations we'll have 30 days from now, 45 days from now, eamon. it
, that's actually all up to john boehner, as i see it, because if we were to decide to bring the president's most recent small car compromise to the house i actually believe it would pass. the problem for him it would probably pass with mostly democrat vote, but i think it could get through the senate. that's the only scenario i see by which we avoid going over the cliff. >> wait a minute. >> at least temporarily. >> wait a minute, jared. john boehner said it's up to the president and harry reid so are both sides standing at the precipice waiting for each other to make the next move. >> not really. it really is all up to john boehner to decide whether he wants to bring this vote to the house floor. if he doesn't, i would put on either your cliff bungee cord or your cliff parachute and that's actually an important difference. >> we would like a bungee cord and a parachute. >> right. >> but i would like to know maybe we have neither. what do you think happens to the market, matt, in either scenario, deal or no deal? >> i can't imagine we're going to get a deal done with any sig
to be rushed through both chambers of congress. house speaker boehner and his rank and file are sitting on the sidelines waiting to see if it will be a deal or no deal from the senate. >> this whole thing is a national embarrassment. i think it's an embarrassment to the president. it's an embarrassment to both sides of the aisle and both the house and the senate. >> how do you get out of it? >> first of all, whatever happens today is really inconsequential. >> ultimately, you're going to have to have people come together in a bipartisan way to get this done. you're not going to be able to get an agreement passed with just republicans. >> republicans simply can't utter the word "yes." they cannot utter the word "yes" without them uttering the word "yes" we can't get a deal. look, this is -- i feel like you're talking to a 5-year-old and, you know, saying, look. you have to eat your vegetables. >> we went over the cliff a long time ago. we just didn't know it. look at the leadership that we have leading us. i mean, it's like lemmings. come on. >> all right. that's what's being said right
fell apart in his negotiations with speaker boehner, was to go back to $250,000. ultimately, as he was trying to work out a deal with boehner that did fail, he was at $400,000 when things fell apart there. now up to $450,000. presumably, senate republicans would want more than that. after just a whirl wind of negotiations yesterday on capitol hill and just a very busy weekend, negotiations are now going on between senate minority leader mitch mcconnell, the top republican in the senate, and vice president joe biden. these are the two players right now. they discussed a possible remedy late into the night, around midnight, we are told, by an aide to mitch mcconnell, and at least at the staff level negotiations began again this morning. the question everyone wants to know, suzanne, of course, is are we going over the cliff? it appears very -- it's sort of unclear at this point. it's difficult to see how we kind of don't logistically and politically at this point, but the president has said he's optimistic, and so have some republicans. >> brianna, finally, what is the drop dead last
to meet with house speaker john boehner, minority leader nancy pelosi, senate majority harry reid and minority leader mitch mcconnell. that is happening this afternoon. jessica yellin is there. jess, what do we know about the president's plan to get everybody in the same room? do we think there's going to be something that comes out of this? >> reporter: well, this is one of those cases where we really are going to have to wait and see, and all the parties involved are also going in with a big question mark. the idea is the expectation by many of the participants in the meeting is that they hope that they will be able to discuss more details about a scaled-down fiscal cliff plan. and maybe that could lead to some sort of agreement ideally for all parties in which all the senators say that they will not filibuster it, and it can go to a vote. and then speaker boehner could, in theory, agree to bring it to a vote on the house floor after the house comes back on sunday. and then we would get all of this behind us before new year's eve. how likely does that sound? not so likely. >> yo
president obama and house speaker john boehner for any kind of break through, millions of married couples facing a higher tax burden if we go over the cliff. the bush era tax law eliminated the marriage clause meaning that incomes of couples earning as little as $80,000 would be subject to taxation at the rate of the higher earning spouse. now as far as their wealth preservation strategies, a nationwide survey done by northern trust found high net worth persons, more than 5 million in assets, are much more proactive in anticipating the tax consequences of going over the cliff than those with a million dollars or less in assets. that same survey had 44% of high net worth individuals saying their top priority for the country is economic growth and reducing unemployment versus 19% who are reducing the federal budget deficit. >> all right, hampton. thank you very much. >>> the finance.yahoo.com poll puts you in the shoes of a member of congress. how would you handle the fiscal cliff? go vote finance.yahoo.com. the results are coming up. there you see your options. michelle. >>> tyler, one of
, speaker boehner had a hard time even getting his own party to sign onto a plan b, which was more modest. how at this point moving forward do you get the republican party united and in lock step with something that's going to help the american people? >> well, the discussions are continuing. they're heading in, incompetent, a positive direction. people want to look at it and make the vote. republicans, i will tell you, are going to wait and make sure we focus on the spending. wherever you draw these lines and what the tax rates are going to be on, it will pay for at the most a week of what the government spends. you still have to deal with the other 358 days of the year. that's why wref to focus on how we spend the taxpayers' dollars, and most taxpayers think the money is being wasted. >> senator, thank you so much. we appreciate your time. of course, we are waiting for the president. he's expected to speak at the south court auditorium at the white house. this is happening at 1:30, about ten minutes or so away. we're very interested in whether or not the are meaty details, significant p
>> senate majority leader reid asked to negotiate. boehner says he will not bring anything to vote in the house until it has passed the senate. nearly every american will see a tax increase starting january 1st and unemployment benefits will expire for millions. >> ordinary folks do their jobs, they meet deadlines. they sit down and they discuss things and then things happen. if there are disagreements, they sort through the disagreements. the notion that our elected leadership can't do the same thing is mind boggling to them. it needs to stop. >> in washington, i'm stacy cohan. >> uncertainty over the fiscal cliff is having a ripple effect from washington to wall street. u.s. stocks ended the session on friday in the red for the fifth straight day. a triple digit loss for the dow which tumbled 158 points, the nasdaq lost almost 26 points. the s&p 500 shed almost 16 points. and the gridlock in washington could help the current congress make history as the most unproductive ever. it's amazing. a review by the huffington post shows 219 bills have been passed this session, that's comp
speaker boehner came to the capitol but left without comment. issue number one in the talks is amending the bush era tax cuts, which if unchanged will expire and raise taxes on all americans. starting tuesday, the average tax hike will be three to 5% per person. >> let's keep taxes exactly where they are on the first $250,000 of everybody's income. >> reporter: the president campaigned to increase taxes only on families making more than $250,000 per year. almost two weeks ago, the president offered a compromise to raise taxes only on income above 400,000, hoping that might win republican support. >> i have gone at least halfway. >> reporter: the senate is also negotiating an extension of unemployment benefits for some 2 million jobless americans, without a deal those checks will stop next week for this mother of five who has been searching for work since february. >> if congress does not extend the unemployment benefits, then i would be without a home and i really don't know what else we would do. >> reporter: the deal under discussion in the senate right now doesn't even include the bi
they acknowledge is risky. house speaker john boehner met with house republicans for an hour and a half today. he didn't share his opinion of the bill, but many other did.licans, like alabama's ledncer bacchus, did. cuttingenate bill failed miserably in cutting spending. >> reporter: michael conaway of texas. ta i'm unwilling to gag down a deal that is unacceptable. >> reporter: even the number two house republican, virginia's eric cantor, said he could not fopport the bill in its current form, despite the fact that it passed the senate at 2:00 this morn morning with huge bipartisan support. >> >> the yeas are 89, the nays are eight. mi reporter: the bill is the product of the intense last- minute negotiations between senate republican leader mitch mcconnell and vice president joe biden. it contains no major cuts, partly because the speaker and vicepulled out of talks with the president last month over a akand bargain that would have cut nearly a trillion dollars in th over . we asked louisiana republican john fleming about that. this bill makes a lot of tax cuts that republicans like permanent.
boehner, the two of them couldn't find a way to get to a deal because they didn't want to look like they were ever caving. and when you get to a point where it looks like you're caving on something, then there is negative political effects. now, that's why they've brought in vice president biden, mitch mcconnell, to try to close this thing. and they may close a deal, but there's no guarantee that even any deal they come to an agreement with tonight will actually make it tomorrow. >> and chuck, this congress has, your honor telling us, the lowest approval rating ever, the least productive. what happens when the next congress comes in later this week? >> reporter: well, the bad news is, if you view this as bad news, more of the same. because even if they get this temporary deal on taxes, temporarily buy down the automatic spending cuts, what they have set up is a series of mini fiscal cliffs, if you will, kate. so every three to six weeks, over the next six months, we could be going through nights like this where we're up against the clock and congress has to act and the president --
no republicans block the bill. for house speaker john boehner to agree to bring it to a vote on the house floor and leader nancy pelosi to predict a huge number of democrats needed to pass it. but if that plan falling through -- >> then i will urge senator reid to bring to the floor a basic package for an up or down vote. >> reporter: the president's basic package has much more for democrats to like. so don't expect that to get very far, but all sides now agree the senate must first pass a bill before the house makes any kind of move. so all eyes will be on mitch mcconnell and harry reid and their negotiatorsoled up on capitol hill. the senate comes back into session at 1:00 on sunday. christi, alison? >>> and the cliffhanger continues. jessica yellin, thanks. >>> and january 1st is the deadline to make a deal on the fiscal cliff. for some states, it's a day that a series of new laws are going to take effect. let me get you clued in here. in california, talking more than 800 new laws, including one requiring apartments and condos to install carbon monoxide detectors. separately, employers will
, that speaker boehner doesn't control the far right of his caucus. this is the reality check, folks, 98% is agreed upon. 98% of americans shouldn't have their taxes raised. we're being held hostage by debate over the top 2%. that's a partisan divide. every american stands to see their taxes raised in three days if they can't come to a deal. >> you agree they will probably come to a small deal. but the bigger issue could happen a couple of months from now, and that that's the debt ceiling. that's kicking the can down the road again. >> that's right. we're going to be here again. remember the debt ceiling debacle a year and a half ago. that led to the downgrading of our credit. and the s&p blamed an atmosphere of partisanship. but the ration questions americans have to ask themselves, is if we couldn't get anything done in the lame duck congress, after the election, politicians will be free to reason together. why should it be any different or any better in a new congress? >> what does it say about the state of our politics? that these elected officials, manufactured a crisis and can't ge
scramble right from the beginning. we had mcconnell, boehner, the vice president and the president. and they weren't the team. the president said you know, i'll swing first because i'm fwoipg to play this one but i don't think that's true. i think he was going for the green the whole time and boy, he put it right in the hole. country's a lot more in the hole than it was. it was the ceo who yelled four trillion more in debt over ten years. i think that's pretty much over what happened. the cbo a new score in general, but that foursome really thinks they won. but i think the handicap's gone up. it's just going to get hotter and hotter to play the back nine. the next big issue for the back nine is definitely going to be the debt ceiling, but the president says you know, that's out of bounds. but i think it's going to be a rough. we're going to be playing in the rough on that one and he's going to be forced to drop the ball if bounds and we're going to see how this back nine plays out because instead of just the foursome, i think we need to have a bigger play of golfers showing up. the
, the sentiment that was expressed in kelly's piece is very close to what speaker boehner said. they hate the bill. they don't like the bill but 89 votes is a real message. you have literally only a hand ful of democrats and a handful of republicans in the senate that voted against this thing in single digits. this means it will get through the house. it may be about 100, 110 republicans aat be s at best, b message was pretty clear and there's not much speaker boehner can do about it. they almost feel that the senate, in voting in those numbers, handcuffed the leadership, forcing them not to change the bill, throw it on there, not be happy about it, but live to fight another day. nancy pelosi and the democrats signed off on it. there may be more democratic votes that pass this house than republican votes at the end of the day, but it will pass. >> what kind of challenge does it face for the future when you see this kind of contentious situation going on for both sides? >> it means we'll have more of the same in the next, at least, three months. we have this whole setup coming up here in march. the
of agreement here? >> we saw last week, that speaker boehner doesn't control the far right of his caucus. the problem is the polarization of the two parties has made it much more difficult to come together with a deal. even, and this is the reality check, folks, 98% is agreed upon. both parties agree that 98% of americans shouldn't have their taxes raised. we're being held hostage by debate over the top 2%. that's a partisan divide. that's not just an ideological divide. every american stands to see their taxes raised in three days if they can't come to a deal. >> you agree they will probably come to a small deal. but the bigger issue could happen a couple of months from now, and that that's the debt ceiling, which we have to address, too. that's kicking the can down the road again. >> that's right. we're going to be here again. remember the debt ceiling debacle a year and a half ago? that led to the downgrading of our credit. national credit, for the first time. and the s&p blamed an atmosphere of partisanship. the definition of insanity is doing the same thing over again. we're going t
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